• Mobile: (757) 816-7000
• Visit Christine's web site
• E-mail Christine

Did you know that I have access to most all homes that are in foreclosure or are pre-foreclosure? From my resources I can provide you with access to these foreclosure properties. Please fill out the short form by clicking "E-Mail Christine" so I may provide you with properties that meet your criteria. There are good buys in all areas of Hampton Roads and good programs available for first time buyers!

What is a Short Sale?

A short sale is a negotiation and sales process where your lender agrees to accept less than the mortgage balance so you can sell your home.

How do I know if I qualify?

Many homeowners try for months to sell their homes only to find that their property sits on the market for months. If this happens during a time of financial crisis, it could be disastrous for you, often sending your property into default and ultimately into foreclosure. The following qualifies you for a short sale.

• You must have a true financial hardship. This can exist for a number of reasons including job loss, illness, death of a loved one, increasing living expenses, decreasing wages, and adjusting mortgage rates. A hardship is also considered if you are simply under budgeted and overspent your monthly income.
• Your property must have little or no equity. Little equity would include a property where you owe at least 85% of the value of your home after subtracting repair costs for your property.

Why a short sale in lieu of foreclosure?

If you do a short sale the advantages are that you will be able to purchase a home after 2 years. If a foreclosure occurs you will have to do extensive credit repair because the foreclosure will remain on your credit report for 7 years preventing you from getting a new mortgage.

If you are performing a short sale on your primary residence then at this time the bank can write off the difference and you will not receive a 1099. If it is an investment property or second home you will receive in some cases a 1099 for the amount written off.

In some cases the bank can have you sign a promissory note for the amount written off this will depend on your situation and the amount of the short sale.

Are you thinking about selling and in short sale situation. If so call me I have solutions to this nightmare. We can work together to take this problem out of your life.

Where can I find out more about the $8,000 tax credit for first time home buyers?

We've created some great documentation - click on the link below to download the PDF file:

Download: First Time Home Buyer Tax Credit FAQ

To save the files, right click the link and select "Save Target As..."